Wall Street brokerage fraud isn’t anything new. It was around long before any of us heard of Bernie Madoff and his  ponzi scheme or Allen Stanford of The Stanford Group and their crimes or the plethora of other schemsters that have come to light now that FINRA has had the spotlight shined on them and their lax regulation. Securities fraud lawyer Tracy Pride Stoneman and securities fraud expert Douglas J. Schultz wrote Brokerage Fraud: What Wall Street Doesn’t Want You to Know in 2002.

Brokerage Fraud is written both for the multi-millionaire and the more moderately wealthy person who either has or plans to engage the services of a financial professional. Actually, I use the term professional loosely because the financial services world runs the gammut from out and out hucksters to truly professional wealth management professionals who act more like a CPA or Attorney than a stockbroker. These truly professional folks are generally not the objects of this book’s disclosures. The trouble is, for the ordinary American investor it is hard to tell which you are getting because the hucksters come with all the trappings of glossy brochures and fancy offices and automobiles as the most successful professionals. The externals look an awful lot alike.

To give you a little taste of the book, here are some of the chapter titles:

• The Brokerage Industry: More Secretive Than You Know
• Conflicts of Interest: Which Side Are Firms Really On?
• Stockbrokers Are Salespeople
• Suitability: The Number One Abuse in the Industry
• Tricks of the Trade: What Wall Street Really Doesn’t Want You to Know

For everyone who is planning to engage a financial advisor or has questions about an advisor you already are working with, this book would be an enlightening  read and might save you a lot of grief and money.

To order a copy of this book, click on Brokerage Fraud

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"Investor Education for Main Street America"